Texas Capital Bancshares (TCBI) 8-K Texas Capital Bancshares Announces Operating Results for Q1 2007

Exhibit 99.1

For immediate release
April 18, 2007

INVESTOR CONTACT
Myrna Vance, 214.932.6646
myrna.vance@texascapitalbank.com

TEXAS CAPITAL BANCSHARES ANNOUNCES OPERATING RESULTS FOR Q1 2007

DALLAS – April 18, 2007 — Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced earnings and operating results for the first quarter of 2007.

• EPS increased 12% for the quarter

• Net income increased 10%

• Loans held for investment grew 28%

• Total deposits grew 25%

“We are pleased to report another good quarter with strong loan growth and excellent credit experience,” said Jody Grant, Chairman of Texas Capital Bancshares. “We continue to evaluate all aspects of our business and make those decisions that optimize the potential for the future.”

FINANCIAL SUMMARY

(dollars and shares in thousands)

	Q1 2007			Q1 2006			% Change
QUARTERLY OPERATING RESULTS
Net Income(1)	$	7,586		$	6,907			10	%
Diluted EPS(1)	$	.29		$	.26			12	%
ROA(1)		.84	%		.92	%
ROE(1)		12.12	%		12.71	%
Diluted Shares		26,441			26,568
BALANCE SHEET
Total Assets(1)	$	3,807,232		$	3,158,044			21	%
Demand Deposits		507,686			481,410			5	%
Total Deposits		3,086,737			2,463,719			25	%
Loans Held for Investment		2,885,963			2,263,007			28	%
Total Loans(1)		3,094,037			2,358,404			31	%
Stockholders’ Equity		263,616			221,766			19	%

(1) From continuing operations

1

DETAILED FINANCIALS

Texas Capital Bancshares, Inc. reported net income from continuing operations of $7.6 million for the first quarter of 2007 compared to $6.9 million for the first quarter of 2006. On a fully diluted basis, earnings per share from continuing operations were $.29 for the three months ended March 31, 2007, compared to $.26 for the same quarter last year, an increase of 12 percent. Results of discontinued operations were net income of $36,000 and net loss of $264,000 for the first quarter 2007 and 2006, respectively. Due to the minor differences between reported earnings and income from continuing operations, the discussion below relates only to continuing operations.

Return on average equity was 12.12 percent and return on average assets was .84 percent for the first quarter of 2007, compared to 12.71 and .92 percent, respectively, for the first quarter of 2006.

Net interest income was $31.7 million for the first quarter of 2007, compared to $26.9 million for the first quarter of 2006. The increase was due to an increase in average earning assets of $580.1 million over levels reported in the first quarter of 2006. The increase in average earning assets included a $599.4 million increase in average loans held for investment and an increase of $85.1 million in average loans held for sale, offset by a decrease of $100.5 million in average securities. The net interest margin in the first quarter of 2007 was 3.78 percent, a 9 basis point decrease from the first quarter of 2006 and an 8 basis point decrease from the fourth quarter of 2006.

Average total deposits increased by $640.8 million from the first quarter of 2006 and by $129.2 from the fourth quarter of 2006. For the same periods, the average balance of demand deposits decreased by 1.3% to $439.1 million from $445.0 million and decreased $31.6 million from the fourth quarter of 2006. Average interest bearing liabilities increased $570.9 million from the first quarter of 2006, net of a $142.8 million decrease in other borrowings.

Key measures of credit quality remained favorable. In the first quarter of 2007, net recoveries were $386,000, compared to net recoveries of $12,000 in the first quarter of 2006 and net charge-offs of $838,000 in the fourth quarter of 2006. For the most recent 12-month period, the net charge-off ratio was .06 percent. Non-accrual loans were $8.8 million, or .31 percent of loans at the end of the first quarter of 2007, compared to $6.0 million, or .27 percent of loans at the end of first quarter of 2006, and $9.1 million, or .33 percent at the end of the fourth quarter of 2006. Loans 90 days past due and still accruing were $4.8 million at the end of the first quarter of 2007 compared to $2.8 million at the end of the first quarter of 2006. At March 31, 2007, the $4.8 million of past due loans included $3.4 million of loans that were paid off in early April, and $928,000 in premium finance loans. The premium finance loans are generally secured by obligations of insurance carriers to refund premiums on cancelled insurance policies. The refund of premiums from the insurance carriers can take 180 days or longer from the cancellation date. The Company recorded a $1.2 million provision for loan losses in the first quarter of 2007, compared to $0 in the first quarter of 2006 and $1.0 million in the fourth quarter of 2006. Reserve coverage of historical losses, non-performing assets and classified loans remains strong. In management’s opinion, the reserve is adequate and is derived from consistent application of the methodology for establishing the adequacy of reserves for Texas Capital Bank’s loan portfolio.

Non-interest income for the first quarter of 2007 increased $1.4 million, or 37 percent, to $5.1 million from $3.7 million in the first quarter of 2006. The increase is primarily related to a $946,000 increase in rental income on leased equipment from $513,000 to $1.5 million related to expansion of our operating lease portfolio. Trust fee income

2

increased $234,000 due to continued growth of trust assets.

Non-interest expense for the first quarter of 2007 increased $4.0 million, or 20 percent, to $24.1 million from $20.1 million in the first quarter of 2006. The increase is primarily related to a $2.8 million increase in salaries and employee benefits to $14.6 million from $11.8 million, of which $825,000 relates to an increase in FAS 123R expense. The remaining increase in salaries and employee benefits resulted from the total number of employees related to the addition of the premium finance business and general business growth. Expansion of the operating lease portfolio resulted in an increase of $826,000 in equipment depreciation expense to $1.2 million from $381,000 in the first quarter of 2007.

On March 30, 2007, Texas Capital Bank completed the sale of its TexCap Insurance Services subsidiary; the sale is, accordingly, reported as a discontinued operation. Historical operating results of TexCap and the net after-tax gain of $1.09 million from the sale are reflected as discontinued operations in the financial statements and schedules.

Subsequent to the end of the quarter, Texas Capital Bank and the purchaser of its residential mortgage loan division (RML) agreed to terminate and settle the contractual arrangements related to the sale of the division, which had been completed as of the end of the third quarter of 2006. As a consequence, the Company will complete the winding up of RML’s activities. Results of discontinued operations include an after-tax charge of $1.06 million for the first quarter of 2007, representing estimated and actual costs associated with the exiting of RML’s remaining activities.

ABOUT TEXAS CAPITAL BANCSHARES, INC.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) is the parent company of Texas Capital Bank, a commercial bank that delivers highly personalized financial services to businesses and private clients. Headquartered in Dallas, the Bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio.

This release contains forward-looking statements, which are subject to risks and uncertainties. A number of factors, many of which are beyond Texas Capital Bancshares’ control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. These risks and uncertainties include the risk of adverse impacts from general economic conditions, competition, interest rate sensitivity and exposure to regulatory and legislative changes. These and other factors that could cause results to differ materially from those described in the forward-looking statements can be found in the Form 10-K and other filings made by Texas Capital Bancshares with the Securities and Exchange Commission.

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TEXAS CAPITAL BANCSHARES, INC.

SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)
(Dollars in thousands except per share data)

	1st Quarter			4th Quarter			3rd Quarter			2nd Quarter			1st Quarter
	2007			2006			2006			2006			2006
CONSOLIDATED STATEMENT OF OPERATIONS
Interest income	$	67,163		$	66,178		$	62,848		$	57,434		$	50,666
Interest expense		35,496			34,346			32,747			28,421			23,799
Net interest income		31,667			31,832			30,101			29,013			26,867
Provision for loan losses		1,200			1,000			750			2,250			—
Net interest income after provision for loan losses		30,467			30,832			29,351			26,763			26,867
Non-interest income		5,136			4,833			4,478			3,989			3,742
Non-interest expense		24,095			23,993			21,635			21,156			20,129
Income from continuing operations before income taxes		11,508			11,672			12,194			9,596			10,480
Income tax expense		3,922			3,958			4,157			3,273			3,573
Net income from continuing operations		7,586			7,714			8,037			6,323			6,907
Income (loss) from discontinued operations (after-tax)		36			356			(167	)		18			(264	)
Net income	$	7,622		$	8,070		$	7,870		$	6,341		$	6,643
Diluted EPS from continuing operations	$	.29		$	.29		$	.30		$	.24		$	.26
Diluted EPS	$	.29		$	.31		$	.30		$	.24		$	.25
Diluted shares		26,440,556			26,373,726			26,411,834			26,524,552			26,567,893
CONSOLIDATED BALANCE SHEET DATA(1)
Total assets	$	3,807,232		$	3,658,505		$	3,463,009		$	3,381,099		$	3,158,044
Loans held for investment		2,885,963			2,722,097			2,543,059			2,417,814			2,263,007
Loans held for sale		208,074			199,014			151,255			133,112			95,397
Securities		508,296			532,053			554,732			573,053			604,987
Demand deposits		507,686			513,930			467,750			532,130			481,410
Total deposits		3,086,737			3,069,330			2,776,648			2,922,494			2,463,719
Other borrowings		331,118			211,559			338,801			173,730			441,991
Long-term debt		113,406			113,406			113,406			72,168			46,394
Stockholders’ equity		263,616			253,515			239,792			224,693			221,766
End of period shares		26,101,994			26,065,124			26,031,829			25,940,874			25,854,651
Book value (excluding securities gains/losses)	$	10.27		$	9.82		$	9.50		$	9.20		$	8.94
SELECTED FINANCIAL RATIOS
From continuing operations
Net interest margin		3.78	%		3.86	%		3.80	%		3.87	%		3.87	%
Return on average assets		.84	%		.87	%		.94	%		.78	%		.92	%
Return on average equity		12.12	%		12.53	%		13.83	%		11.36	%		12.71	%
Non-interest income to earning assets		.61	%		.58	%		.56	%		.53	%		.53	%
Efficiency ratio		65.5	%		65.4	%		62.6	%		64.1	%		65.8	%
Non-interest expense to earning assets		2.86	%		2.89	%		2.71	%		2.80	%		2.87	%
From consolidated
Net interest margin		3.77	%		3.84	%		4.01	%		4.10	%		4.09	%
Return on average assets		.84	%		.90	%		.91	%		.78	%		.88	%
Return on average equity		12.18	%		13.11	%		13.54	%		11.39	%		12.22	%
Tier 1 capital ratio		9.8	%		9.7	%		11.1	%		10.1	%		9.6	%
Total capital ratio		11.1	%		11.2	%		11.8	%		10.7	%		10.3	%
Tier 1 leverage ratio		9.5	%		9.2	%		10.2	%		9.1	%		8.6	%

(1) From continuing operations

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TEXAS CAPITAL BANCSHARES, INC.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Dollars in thousands)

	March 31,			March 31,			%
	2007			2006			Change
Assets
Cash and due from banks	$	106,653		$	108,429			(2	)%
Federal funds sold		20			—			100	%
Securities, available-for-sale		508,296			604,987			(16	)%
Loans held for sale		208,074			95,398			N/M
Loans held for sale from discontinued operations		12,525			34,887			(64	)%
Loans held for investment (net of unearned income)		2,885,963			2,263,007			28	%
Less: Allowance for loan losses		22,589			18,909			19	%
Loans held for investment, net		2,863,374			2,244,098			28	%
Premises and equipment, net		34,350			21,155			62	%
Accrued interest receivable and other assets		78,492			71,573			10	%
Goodwill and intangibles, net		7,973			12,405			(36	)%
Total assets	$	3,819,757		$	3,192,932			20	%
Liabilities and Stockholders’ Equity
Liabilities:
Deposits:
Non-interest bearing	$	507,686		$	481,410			5	%
Interest bearing		1,621,299			1,478,730			10	%
Interest bearing in foreign branches		957,752			503,579			90	%
Total deposits		3,086,737			2,463,719			25	%
Accrued interest payable		7,895			4,857			63	%
Other liabilities		16,985			14,205			20	%
Federal funds purchased		288,640			263,187			10	%
Repurchase agreements		42,478			103,642			(59	)%
Other borrowings		—			75,162			(100	)%
Long-term debt		113,406			46,394			N/M
Total liabilities		3,556,141			2,971,166			20	%
Stockholders’ equity:
Common stock, $.01 par value:
Authorized shares – 100,000,000 Issued shares – 26,101,994 and 25,854,651 at March 31, 2007 and 2006, respectively		261			259
Additional paid-in capital		184,038			177,014
Retained earnings		83,785			53,882
Treasury stock (shares at cost: 84,691 and 84,274 at March 31, 2007 and 2006, respectively)		(581	)		(573	)
Deferred compensation		573			573
Accumulated other comprehensive loss		(4,460	)		(9,389	)
Total stockholders’ equity		263,616			221,766			19	%
Total liabilities and stockholders’ equity	$	3,819,757		$	3,192,932			20	%

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TEXAS CAPITAL BANCSHARES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands except per share data)

	Three Months Ended
	March 31
	2007		2006
Interest income
Interest and fees on loans	$	61,174	$	43,800
Securities		5,969		6,831
Federal funds sold		5		24
Deposits in other banks		15		11
Total interest income		67,163		50,666
Interest expense
Deposits		30,890		19,307
Federal funds purchased		2,153		1,908
Repurchase agreements		394		1,202
Other borrowings		12		554
Long-term debt		2,047		828
Total interest expense		35,496		23,799
Net interest income		31,667		26,867
Provision for loan losses		1,200		—
Net interest income after provision for loan losses		30,467		26,867
Non-interest income
Service charges on deposit accounts		893		856
Trust fee income		1,077		843
Bank owned life insurance (BOLI) income		298		286
Brokered loan fees		479		369
Equipment rental income		1,459		513
Other		930		875
Total non-interest income		5,136		3,742
Non-interest expense
Salaries and employee benefits		14,557		11,846
Net occupancy expense		2,020		2,011
Leased equipment depreciation		1,207		381
Marketing		757		702
Legal and professional		1,661		1,452
Communications and data processing		832		692
Franchise taxes		41		61
Other		3,020		2,984
Total non-interest expense		24,095		20,129
Income from continuing operations before income taxes		11,508		10,480
Income tax expense		3,922		3,573
Income from continuing operations		7,586		6,907
Income (loss) from discontinued operations (after-tax)		36		(264	)
Net income	$	7,622	$	6,643
Basic earnings per share:
Income from continuing operations	$	.29	$	.27
Net income	$	.29	$	.26
Diluted earnings per share:
Income from continuing operations	$	.29	$	.26
Net income	$	.29	$	.25

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TEXAS CAPITAL BANCSHARES, INC.

SUMMARY OF LOAN LOSS EXPERIENCE
(Dollars in thousands)

	1st Quarter			4th Quarter			3rd Quarter			2nd Quarter			1st Quarter
	2007			2006			2006			2006			2006
Beginning balance	$	21,003		$	20,841		$	19,646		$	18,909		$	18,897
Loans charged-off:
Commercial		146			837			70			1,618			—
Real estate		—			—			—			—			—
Consumer		—			—			—			—			3
Leases		—			36			—			30			10
Total		146			873			70			1,648			13
Recoveries:
Commercial		504			12			441			5			4
Consumer		13			—			—			—			1
Leases		15			23			74			130			20
Total recoveries		532			35			515			135			25
Net charge-offs (recoveries)		(386	)		838			(445	)		1,513			(12	)
Provision for loan losses		1,200			1,000			750			2,250			—
Ending balance	$	22,589		$	21,003		$	20,841		$	19,646		$	18,909
Reserve to loans held for investment(2)		.78	%		.77	%		.82	%		.81	%		.84	%
Reserve to average loans held for investment(2)		.82	%		.80	%		.84	%		.83	%		.87	%
Net charge-offs (recoveries) to average loans(1) (2)		(.06	)%		.13	%		(.07	)%		.26	%		(.00	)%
Net charge-offs (recoveries) to average loans for last twelve months(1) (2)		.06	%		.08	%		.05	%		.07	%		(.01	)%
Provision for loan losses to average loans(1) (2)		.18	%		.15	%		.12	%		.38	%		—
Reserve as a multiple of net charge-offs		N/M			25.1	x		N/M			13.0	x		N/M
Non-performing loans:
Loans past due (90 days)(3)	$	4,828		$	2,192		$	2,627		$	2,746		$	2,824
Non-accrual		8,843			9,088			6,432			5,063			6,032
Total	$	13,671		$	11,280		$	9,059		$	7,809		$	8,856
Other real estate owned	$	89		$	882		$	882		$	89		$	89
Reserve to non-performing loans		1.7	x		1.9	x		2.3	x		2.5	x		2.1	x
Reserve to non-accrual loans		2.6	x		2.3	x		3.2	x		3.9	x		3.1	x
Reserve to non-performing assets		1.6	x		1.7	x		2.1	x		2.5	x		2.1	x
Non-accrual loans to loans(2)		.31	%		.33	%		.25	%		.21	%		.27	%
Loans past due 90 days to loans(2)		.17	%		.08	%		.10	%		.11	%		.12	%
Non-performing loans to loans(2)		.47	%		.41	%		.36	%		.32	%		.39	%

(1)	Interim period ratios are annualized.
(2)	Excludes loans held for sale.
(3)	At March 31, 2007, loans past due 90 days and still accruing includes premium finance loans of $928,000. These loans are generally secured by obligations of insurance carriers to refund premiums on cancelled insurance policies. The refund of premiums from the insurance carriers can take 180 days or longer from the cancellation date. The total also includes $3.4 million in loans that were paid off in early April 2007. After giving effect to these reductions, the ratio of non-performing loans to total loans was .36% and the ratio of the reserve to non-performing loans increased to 2.2.

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TEXAS CAPITAL BANCSHARES, INC.

CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
(Dollars in thousands)

	1st Quarter		4th Quarter		3rd Quarter			2nd Quarter		1st Quarter
	2007		2006		2006			2006		2006
Interest income
Interest and fees on loans	$	61,174	$	59,882	$	56,320		$	50,692	$	43,800
Securities		5,969		6,266		6,488			6,726		6,831
Federal funds sold		5		14		24			3		24
Deposits in other banks		15		16		16			13		11
Total interest income		67,163		66,178		62,848			57,434		50,666
Interest expense
Deposits		30,890		29,487		28,337			22,369		19,307
Federal funds purchased		2,153		1,793		1,753			2,433		1,908
Repurchase agreements		394		587		665			1,562		1,202
Other borrowings		12		393		634			890		554
Long-term debt		2,047		2,086		1,358			1,167		828
Total interest expense		35,496		34,346		32,747			28,421		23,799
Net interest income		31,667		31,832		30,101			29,013		26,867
Provision for loan losses		1,200		1,000		750			2,250		—
Net interest income after provision for loan losses		30,467		30,832		29,351			26,763		26,867
Non-interest income
Service charges on deposit accounts		893		865		780			805		856
Trust fee income		1,077		1,073		1,008			866		843
Bank owned life insurance (BOLI) income		298		301		255			292		286
Brokered loan fees		479		521		656			483		369
Equipment rental income		1,459		1,433		1,147			815		513
Other		930		640		632			728		875
Total non-interest income		5,136		4,833		4,478			3,989		3,742
Non-interest expense
Salaries and employee benefits		14,557		13,711		12,542			12,484		11,846
Net occupancy expense		2,020		2,111		1,907			1,953		2,011
Leased equipment depreciation		1,207		1,002		928			786		381
Marketing		757		785		690			905		702
Legal and professional		1,661		2,084		1,590			1,360		1,452
Communications and data processing		832		862		843			733		692
Franchise taxes		41		58		58			104		61
Other		3,020		3,380		3,077			2,831		2,984
Total non-interest expense		24,095		23,993		21,635			21,156		20,129
Income from continuing operations before income taxes		11,508		11,672		12,194			9,596		10,480
Income tax expense		3,922		3,958		4,157			3,273		3,573
Income from continuing operations		7,586		7,714		8,037			6,323		6,907
Income (loss) from discontinued operations (after-tax)		36		356		(167	)		18		(264	)
Net income	$	7,622	$	8,070	$	7,870		$	6,341	$	6,643

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TEXAS CAPITAL BANCSHARES, INC.

QUARTERLY FINANCIAL SUMMARY — UNAUDITED
Consolidated Daily Average Balances, Average Yields and Rates
Continuing Operations
(Dollars in thousands)

	1st Quarter 2007							4th Quarter 2006							3rd Quarter 2006							2nd Quarter 2006							1st Quarter 2006
	Average		Revenue/		Yield/			Average		Revenue/		Yield/			Average		Revenue/		Yield/			Average		Revenue/		Yield/			Average		Revenue/		Yield/
	Balance		Expense(1)		Rate			Balance		Expense(1)		Rate			Balance		Expense(1)		Rate			Balance		Expense(1)		Rate			Balance		Expense(1)		Rate
Assets
Securities — Taxable	$	467,219	$	5,535		4.80	%	$	490,001	$	5,830		4.72	%	$	507,156	$	6,055		4.74	%	$	537,934	$	6,291		4.69	%	$	567,653	$	6,396		4.57	%
Securities — Non-taxable(2)		48,549		668		5.58	%		48,573		669		5.46	%		48,595		666		5.44	%		48,614		669		5.52	%		48,635		669		5.58	%
Federal funds sold		418		5		4.85	%		1,004		14		5.53	%		1,750		24		5.44	%		200		3		6.02	%		2,233		24		4.36	%
Deposits in other banks		1,097		15		5.55	%		1,207		16		5.26	%		1,498		16		4.24	%		908		13		5.74	%		1,079		11		4.13	%
Loans held for sale		156,400		2,791		7.24	%		155,620		2,791		7.12	%		150,225		2,747		7.25	%		103,483		1,752		6.79	%		71,282		1,154		6.57	%
Loans held for investment		2,767,834		58,383		8.55	%		2,620,307		57,091		8.64	%		2,479,057		53,573		8.57	%		2,360,189		48,940		8.32	%		2,168,410		42,646		7.98	%
Less reserve for loan losses		21,001		—		—			20,751		—		—			19,823		—		—			19,129		—		—			18,898		—		—
Loans, net of reserve		2,903,233		61,174		8.55	%		2,755,176		59,882		8.62	%		2,609,459		56,320		8.56	%		2,444,543		50,692		8.32	%		2,220,794		43,800		8.00	%
Total earning assets		3,420,516		67,397		7.99	%		3,295,961		66,411		7.99	%		3,168,458		63,081		7.90	%		3,032,199		57,668		7.63	%		2,840,394		50,900		7.27	%
Cash and other assets		231,412							225,092							217,663							208,502							205,999
Total assets	$	3,651,928						$	3,521,053						$	3,386,121						$	3,240,701						$	3,046,393
Liabilities and Stockholders’ Equity
Transaction deposits	$	105,592	$	282		1.08	%	$	97,428	$	276		1.12	%	$	99,549	$	284		1.13	%	$	112,046	$	310		1.11	%	$	117,685	$	312		1.08	%
Savings deposits		821,526		9,175		4.53	%		879,452		10,063		4.54	%		769,271		8,703		4.49	%		701,007		7,257		4.15	%		671,102		6,195		3.74	%
Time deposits		769,485		9,756		5.14	%		598,258		7,658		5.08	%		643,708		8,069		4.97	%		684,630		7,784		4.56	%		635,250		6,664		4.25	%
Deposits in foreign branches		915,229		11,677		5.17	%		875,851		11,490		5.20	%		845,338		11,281		5.29	%		562,223		7,018		5.01	%		541,084		6,136		4.60	%
Total interest bearing deposits		2,611,832		30,890		4.80	%		2,450,989		29,487		4.77	%		2,357,866		28,337		4.77	%		2,059,906		22,369		4.36	%		1,965,121		19,307		3.98	%
Other borrowings		207,303		2,559		5.01	%		219,644		2,773		5.01	%		238,350		3,052		5.08	%		405,424		4,885		4.83	%		350,084		3,664		4.24	%
Long-term debt		113,406		2,047		7.32	%		113,406		2,086		7.30	%		73,064		1,358		7.37	%		64,521		1,167		7.25	%		46,394		828		7.24	%
Total interest bearing liabilities		2,932,541		35,496		4.91	%		2,784,039		34,346		4.89	%		2,669,280		32,747		4.87	%		2,529,851		28,421		4.51	%		2,361,599		23,799		4.09	%
Demand deposits		439,071							470,701							464,645							468,449							445,012
Other liabilities		26,494							22,106							21,633							19,055							19,309
Stockholders’ equity		253,822							244,207							230,563							223,346							220,473
Total liabilities and stockholders’ equity	$	3,651,928						$	3,521,053						$	3,386,121						$	3,240,701						$	3,046,393
Net interest income			$	31,901						$	32,065						$	30,334						$	29,247						$	27,101
Net interest margin						3.78	%						3.86	%						3.80	%						3.87	%						3.87	%
(1)    The loan averages include loans on which the accrual of interest has been discontinued and are stated net of unearned income.
(2)    Taxable equivalent rates used where applicable.
Additional information from discontinued operations:
Loans held for sale	$	12,068						$	22,763						$	27,422						$	33,806						$	30,748
Borrowed funds		12,068							22,763							27,422							33,806							30,748
Net interest income			$	46						$	87						$	1,972						$	2,113						$	1,854
Net interest margin — consolidated						3.77	%						3.84	%						4.01	%						4.10	%						4.09	%

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